I am working a deal right now where there was a second with USAA. It was sent to American Coradius for collection. Thus far, they've been impossible. The balance on the 2nd is $32K. They told me they would take $18K. HA! GMAC, who holds the 1st, offered them $1800. Anyway, if anyone has any advice or words of wisdom I would be most appreciative. Thanks.
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Just got a new file with them a few weeks ago. They are just servicers/collectors for a really old Citi 2nd. They are pleasant enough but already it is a waste of time because they can't make any decisions for less than 15% of UPB....It is just sent up the chain to Citi.
I was afraid of that. They want their own short sale package and my seller is flipping out because I guess they harrassed him mercilessly. So I guess they could just hold out, cause the property to foreclose, and I would just have a gianormous waste of time on my hands it sounds like. Thanks for responding.